Regional Center of NDB Launched

The New Development Bank (NDB) on August 17 launched its Africa Regional Center in Johannesburg, with South African President Jacob Zuma presiding over the proceedings.

Zuma hailed the launch as a historical event and the foundation of BRICS commitment to the development of the African continent and emerging markets. The NDB has disbursed the first set of loans amounting to $1.5 billion. Zuma said this is a significant step forward together with other achievements like the bank’s first bond issuance in the Chinese capital market, mobilizing about $450 million.

“We expect that the bank, through the